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Waste Management Market Increasing Demand, Growth Analysis and Future Outlook by 2030 | Biffa Plc, Clean Harbors

Global Waste Management Market Insights

Global Waste Management Market Insights

The global waste management market size was valued at US$ 2,008.70 billion in 2022 and is anticipated to witness a (CAGR) of 5.50% from 2023 to 2030.

BURLINGAME, CALIFORNIA, UNITED STATES, December 6, 2023 /EINPresswire.com/ -- The Waste Management Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Waste management includes collection, transport, processing and recycling or disposal of waste materials. It involves various waste types like residential, commercial and industrial waste.

Market Dynamics:

Stringent government regulations regarding waste disposal are expected to drive the growth of the waste management market during the forecast period. Government bodies across the world are implementing various regulations to encourage the proper treatment and disposal of waste. For instance, the European Union's Landfill Directive restricts disposal of biodegradable municipal waste to landfills. Another major driver is the growing adoption of recycling and waste reduction practices. Rising environmental awareness among consumers and industries has boosted recycling activities for plastic, paper, glass and other waste streams over the past few years. This is anticipated to propel the market growth over 2023-2030.

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Top Key Players are Covered in this Report:

★ Biffa Plc
★ Clean Harbors Inc.
★ Covanta Holding Corporation
★ Daiseki Co. Ltd
★ Hitachi Zosen Corporation
★ Remondis Se & Co. Kg
★ Republic Services Inc.
★ Suez
★ Veolia Environment
★ Waste Management Inc.

Detailed Segmentation

By Type:

★ Municipal Waste
★ Industrial Waste
★ Hazardous Waste

By Service:

★ Collection Service
★ Disposable Service

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Two Major Drivers of the Waste Management Market: Growing Environmental Awareness and Regulations

One of the key drivers of the waste management market is the increasing environmental awareness among individuals and organizations. People are more concerned about the negative impacts of waste on the environment such as air and water pollution. Various initiatives such asreduce, reuse and recycle are encouraging both households and businesses to properly dispose of and manage their waste. Governments across the world are also formulating stringent environmental laws and regulations to curb pollution from improper waste disposal. For example, many countries have banned single-use plastics and imposed heavy fines on littering and illegal dumping. Such regulations are motivating industries as well as municipalities to adopt sustainable waste management practices.

Rise in Urban Population and Economic Growth

Another major factor augmenting the waste management industry is rapid urbanization and improving economic conditions globally. As more people migrate to cities for employment opportunities, the volume of municipal solid waste generated on a daily basis is escalating exponentially. Developed nations are generating ever-increasing amounts of e-waste from shorter product lifecycles and growing adoption of electronics. Emerging economies like India and China with burgeoning middle classes are witnessing a surge in household consumption which results in higher commercial and industrial waste. Their developing infrastructure and GDP growth contribute significantly to the construction and demolition debris as well. All these trends are raising the demand for comprehensive waste collection and recycling services across the world.

Lack of Required Infrastructure: A Key Restrain

Inadequate Infrastructure: A Bottleneck for Market Growth

Despite government focus and private sector initiatives, lack of appropriate infrastructure continues to hinder the progress of the waste management industry especially in developing regions. Many cities lack proper waste collection services due to insufficient number of trucks, bins and landfill sites. Improper road connectivity poses transportation challenges while low mechanization hampers operations. There is also a deficit of material recovery and recycling facilities. Public-private-partnerships have been slow to take off due to high upfront investment requirements. The unorganized sector manages a major chunk of the waste with little application of scientific processes. Such infrastructure gaps undermine waste segregation, transportation and processing activities. Unless robust frameworks are established through long-term planning and financing, this bottleneck will restrain the market's full potential.

Turning Waste to Energy: A Lucrative Opportunity

Waste to Energy: A Viable Commercial Opportunity

One of the promising growth opportunities for waste management companies lies in expanding electricity generation from waste. Municipal solid waste and biomass contain high calorific value that can be harnessed through processes like combustion, gasification and anaerobic digestion. The resultant biogas, syngas or thermal energy can power turbines to produce renewable electricity. Some regions also test technology to generate transport fuels like ethanol from organic fractions of garbage. With depleting fossil fuel reserves and global warming concerns, converting non-recyclable trash to energy presents a win-win solution. It earns revenue while reducing dependence on landfills. Many developed countries have sizeable waste-to-energy plants and the concept is progressively gaining traction in developing economies as well. This represents a lucrative business avenue for market players with upcoming projects estimated to be worth billions of dollars.

Growing Adoption of IoT and Digital Technologies

Internet of Things to Boost Operational Efficiency

A notable trend acquiring momentum in the waste management sector is the growing adoption of Internet of Things (IoT) and digital technologies. Smart collection containers embedded with sensors relay fill levels and routes to optimize pick-up schedules. GPS and telematics help track fleet movements and monitor driver behavior. Drones and CCTV cameras aid surveillance of illegal dumping sites. Artificial intelligence and analytics are employed to study waste generation patterns and service performance. Blockchain certification boosts credibility of recycling rates. Such innovations enhance visibility, cut costs and raise productivity across the value chain from collection to treatment. As connectivity and computing power expand globally, IoT solutions will revolutionize waste management processes. This will significantly improve customer service levels while boosting profit margins for industry players.

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The report answers a number of crucial questions, including:

✦ Which companies dominate the global Waste Management market?
✦ What current trends will influence the market over the next few years?
✦ What are the market’s opportunities, obstacles, and driving forces?
✦ What predictions for the future can help with strategic decision-making?
✦ What advantages does market research offer businesses?
✦ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
✦ What is the anticipated growth rate for the Waste Management market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Waste Management Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact Us:

Mr. Shah
Coherent Market Insights Pvt. Ltd.
+1 206-701-6702
email us here
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